Bitcoin advocate and Miami Mayor, Francis Suarez, announced on social media platform X  his decision to withdraw from the U.S. presidential race.

Suarez stated, “Though I’m stepping down from the presidential campaign, my dedication to improving the country for every American remains undeterred.” He shared his decision via a tweet on Tuesday.

Previously critical of the Biden administration’s crypto stance, Suarez had mentioned that his campaign would accept bitcoin donations. He believed this was a step toward harnessing technology that provides equal wealth-building opportunities. Furthermore, he expressed intentions to prohibit a Central Bank Digital Currency (CBDC) due to privacy issues.

Suarez, in his time, has delved deep into the realm of cryptocurrency. He accepted his salary in bitcoin and even introduced MiamiCoin (MIA) in 2021. His vision was to provide Miami residents with a recurring bitcoin stimulus, similar to dividends for shareholders. Yet, the initiative didn’t gain as much momentum as expected. The trading of MiamiCoin was eventually halted on some platforms due to its low liquidity.

Entering the race for the GOP nomination in June, Suarez faced stiff competition, especially from leading figures like former President Donald Trump and Florida’s Governor, Ron DeSantis. Although he’s stepped back from the presidential bid, Suarez remains committed to the Republican cause.

In his concluding remarks, he expressed, “I will keep collaborating with fellow Republican presidential contenders to ensure our party presents a compelling nominee. A nominee capable of rekindling trust in our institutions, uniting the nation, and emerging victorious.”